Shares fell on November 24 to end a three-day rally as investors tried to lock in profits and choppy crude prices resulted in a negative move for the energy sector.
Shares fell yesterday to end a three-day rally as investors tried to lock in profits and choppy crude prices resulted in a negative move for the energy sector. (Photo: thoibaonganhang.vn)
Hanoi (VNA) - Shares fell on November 24 to end a three-day rally asinvestors tried to lock in profits and choppy crude prices resulted in anegative move for the energy sector.
Thebenchmark VN Index on the HCM Stock Exchange dropped 0.7 percent to close at678.18 points, putting a dent in its three-day increase of 1.5 percent.
TheHNX Index on the Hanoi Stock Exchange edged down 0.3 percent to finish at 81.18points. The northern market index had gained 1 percent in the previous threesessions.
Bluechips were the major force that pushed the stock market down, with seven of the10 largest companies by market capitalisation ending in the negative territory.
Thoseincluded Vietcombank (VCB), Bank for Investment and Development of Vietnam (BID),Vietinbank (CTG), Faros Construction Corp (ROS) and dairy producer Vinamilk(VNM).
VCBwas down 0.8 percent after rising a total 2.1 percent in the previous threetrading days, BID slid 0.6 percent after gaining 5.2 percent in the same period,and CTG slashed 2.1 percent from its gain of 3.1 percent.
VNMfell 1.7 percent to extend its loss to 2.8 percent after two sessions, and ROSslumped 6.6 percent – the worst fall since it was listed on the southern boursein September 1. Faros’ share price soared more than nine times the startingprice on September 1 to 118,000 VND on November 24.
Theenergy sector was mixed with most of the oil and gas stocks ending lower than theprevious day’s closing levels in response to choppy global crude pricesuncertain whether the Organisation of Petroleum Exporting Countries could agreeon an output cut at its November 30 meeting.
Markettrading liquidity was almost flat compared to November 23. Nearly 160 million shareswere exchanged worth 2.78 trillion VND (123.7 million USD).-VNA
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Shares fell yesterday to end a three-day rally as investors tried to lock in profits and choppy crude prices resulted in a negative move for the energy sector. (Photo: thoibaonganhang.vn) 
